15, April 2016

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The dollar significantly rose against the Swiss franc amid the stock indices strengthening and the increased interest in the risky assets. The weaker-than-expected data on US retail sales was not able to change investors’ sentiment.

The price is finding the first support at 0.9660, the next one is at 0.9580. The price is finding the first resistance at 0.9750, the next one is at 0.9850.

There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement forming a “Golden Cross”. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is consolidating.

Trading recommendations

We advise to long with the first target - 0.9750. When the pair consolidates above the first target, we can open deals to the level of 0.9850.